The waters off the New England coast have been referred to the Saudia Arabia of wind energy, with some of the highest wind speeds in US offshore areas. Our ability to harness this free, abundant resource and turn it into electricity is key to providing reliable energy to power our economy while achieving critical climate goals.
Massachusetts regulators considering the state’s next offshore wind project awards this month have a real opportunity to deliver more, affordable clean energy that will benefit the state’s residents and the wider New England region.
Offshore wind offers substantial economic benefits through job creation and investment opportunities, enhances environmental sustainability by reducing greenhouse gas emissions, improves public health by decreasing air pollution, and strengthens energy security by diversifying the nation’s domestic energy sources.
The sector is in growth mode and projected to generate more than 56,000 new US jobs over the next five years. These opportunities span a wide range of fields, from project development and construction to vessel operations, manufacturing, port management, and maintenance jobs. Offshore wind companies have already committed $3 billion to supply chain investments with total infrastructure investments surpassing $9 billion. Part of those efforts will include the renewal and expansion of port and vessel operations, building jobs and additional economic benefits to coastal communities.
Offshore wind is critical to Massachusetts’ climate strategy, reinforcing the state’s leadership in environmental stewardship and technology innovation. These projects provide the opportunity to increase power access in densely populated urban areas where it is most needed, saving consumers millions of dollars in power costs annually. Furthermore, offshore wind energy contracts can secure prices for up to 20 years, mitigating the risk of price volatility often seen with other energy sources.
Demand for electricity in the US is skyrocketing due to success in reshoring manufacturing, electrifying transportation, and the increasing power demand associated with artificial intelligence data centers. Current demand is growing so much that by 2030, it will be equivalent to adding another New York state’s worth of demand to the grid, and that electricity is going to have to come from somewhere.
Let’s make it a source that benefits the US, not set us back. With potential offshore wind capacity growing, there is now an opportunity to produce clean energy from reliable renewable sources. Without capitalizing on major offshore wind projects, New England could face long term energy shortfalls as it would be unable to meet future energy demand, let alone meet regional air quality and climate goals.
We are now facing a once-in-a-generation opportunity to embrace an innovative, effective source of energy that would not only power millions of American homes and businesses, but spur economic growth, support thousands of new, good-paying jobs, and strengthen our grid and energy independence—all while addressing our climate imperative. Investments in this nascent industry are a necessary step in the fight for our future. Now, more than ever, is the time to capitalize on an all-of-the-above energy strategy that meets our climate and security goals.
Jason Grumet is the CEO of the American Clean Power Association.
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